Anyone Own Property?

I know there are probably already topics that touch on this but was wondering if anyone , NYC, San Fran, Boston or anywhere else has used some of the proceeds from bonuses and overall just a high salary to invest in real estate and act as a landlord?

I am genuinely interested in doing so as i need to put some bonus money to work before i spend it on things that will continue to chip away years from life ie excessive amounts of Scotch.

Honestly given the hours I work as an analyst though I feel like it will be challenging to be a landlord given that I am currently renting, and my apartment has constant maintenance issues and I am only there for 5 hours a day to sleep

WNS

Comments (4)

Apr 4, 2017

How much money do you have to put down?

Apr 4, 2017

Enough for a 25% down payment on an out of state investment property maybe 2 depending on the out of state city i choose. Ultimately i just want to know if people A. as early as analyst / associate have considered it or B. can pull it off with the hours

Best Response
Apr 4, 2017

Alright, I'm not sure what enough means but if you're strapped for time I'd look into a NNN property with a long term lease like a Walgreens or McDonalds. Probably run you about 3-5mm but could give you a solid 10-15 year window of zero responsibilities.

If enough means like $100k, I'd skip it for now. You're going to end up with a SFR or Duplex and realistically speaking, probably be on the phone with your PM weekly because low income renters tend to break a lot of stuff. Also, economies of scale are your friend. You'll be looking at a PM fee of like 10% of gross income in this price range.

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Apr 5, 2017
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